The gender income gap seen in U.S. workplaces still favors men, though it has been gradually shrinking. And part of the reason the gap is closing is that while women have been earning more, men have been earning less.
In a new report published in the Milken Institute Review, Michael Greenstone and Adam Looney point to an eye-opening trend: The median wage of the American male worker has declined by 28%, or almost $13,000 (after accounting for inflation) in the four decades since 1968.
There are some profound implications on lifestyle in situations in which husbands do earn less than their wives, as recently explored by SmartPlanet colleague Audrey Quinn. Audrey cites a study by Hanna Rosin, whose new book, The End of Men: And the Rise of Women, documents the shift taking place.
The Atlantic's Derek Thompson, who surfaced the Greenstone-Looney analysis, points to Rosin's observation that nearly half of the jobs created in the last 15 years have been in government, health care, and education, which historically have been more likely to employ more women. Male-dominated sectors such as manufacturing have decreased as a share of the economy. Lately, construction has also been in decline, leading some pundits to refer to the recent recession as a "mancession."
What forces are at work that are actually decreasing the average income for men? There's been a trend toward earlier retirement, but the authors adjusted for this possibility, and found the income drop was just as pronounced among men between the ages of 30 and 50.
Greenstone and Looney point to three main long-term factors impacting men's wage growth:
How to reverse this trend? The options are few and difficult, Greenstone and Looney admit. But a good place to start is to encourage greater education and training. Competing in today's global economy requires workers with both technology and visionary skills -- and there simply isn't enough of it to go around to sustain U.S. businesses in the long run. Education and training efforts are not keeping up with the rate of change.
This post was originally published on Smartplanet.com